The UK's blue-chip index was down 49.53 points, or 0.9pc at 5,288.85, by 7.03am, having closed below 5,400 for the first time this year on Thursday, and set to record its third-straight week of losses as turmoil in the eurozone dominated the market ...
Last week, Barclays launched a new six-year FTSE 100 “Autocall” that pays out 8.25 per cent a year for each year held if the index is above its starting level on an anniversary - and holds gilts as collateral for the value of the investment.
Hoare Govett, acquired by Jefferies from Royal Bank of Scotland in February, had lost four of its 10 FTSE 100 clients since the last rankings, with G4S, Cairn Energy, GlaxoSmithKline and Imperial Tobacco moving to other brokers.
Aviva lost a shareholder vote over its pay plans on Thursday, the first such defeat for a FTSE 100 company in three years, as investor anger at the disconnect between executive remuneration and corporate performance reached boiling point.
By contrast, the FTSE 100 index has had 63 negative periods. Della Casa has co-opted the language of equity analysis to support his argument, using price charts to prove the “bear market” has left wine looking “oversold”.